Default: The Student Loan Documentary is a feature-length documentary chronicling the stories of borrowers from different backgrounds affected by the private student lending industry and their struggles to change the system. In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin. www.defaultmovie.com A film by Serge Bakalian and Aurora Meneghello
25 Comments Already
March 8th, 2010 @8:35 pm
There are student loans available. You can read reviews and news all about student loans
studentloans1 . blogspot . com
March 8th, 2010 @9:14 pm
@vanorenstein SSShhh.. just sshhh your an idiot…just sshshhhhh.. I will let you figure out why someone would get a degree……..just ssshhhhh.
March 8th, 2010 @10:10 pm
@pro1tein
Probably not half as stupid as you. We are suppose to believe your mom is now 28. At any rate, I will rephrase the question. If it took your mom 10 years to get her degree while she was working, what was the purpose?
March 8th, 2010 @10:49 pm
@vanorenstein LOL…you really don’t know how stupid you look saying that…..again read what I wrote… it says it took her til 28.. .TIL 28… and 10 years of night school…
Think I need to just say it… dam your dumb
March 8th, 2010 @11:44 pm
I think your momma is an idiot, since it? took her 28 years to graduate college. She could have used that money for your plastic surgery.
March 8th, 2010 @11:44 pm
@pro1tein
I think your momma is an idiot, since it? took her 28 years to graduate college. She could have used that money for her plastic surgery.
March 9th, 2010 @12:31 am
@vanorenstein Wow your an idiot… read my post again…. READ…. then comment
March 9th, 2010 @1:05 am
I don’t know… I am thinking.. why do you even borrow all this money.. I started in community college and went to an affordable state school.. There is military options as well..
And you don’t have to go straight through in college. You can go a semester and take one off, or you can go part-time.. My mom did 10 years of night school to get her accounting degree. Worked full time and did night classes..
She had no debt, it took her til 28 to get her degree, but she didnt owe anything.
March 9th, 2010 @1:44 am
I am so tired of sallie mae…yeah they gave me the money I need for school but seriously we should not have to pay a house note to pay them back….this aint right…i wish i could sue
March 9th, 2010 @1:52 am
True–otherwise, it’s like your simply “using a debit card”.
March 9th, 2010 @2:09 am
Good point–and true. But has to be certified as PERMANENTLY (not just “long-term”)–with ZERO chance of recovery to the point of employment.
And, as you said, if disability/injury happened because he borrowed.
March 9th, 2010 @2:55 am
The young shouldn’t be so idealistic.
Not voting/not registering to vote significantly reduces–but does not eliminate–one’s chances of getting summoned for jury duty. That’s why I don’t vote.
March 9th, 2010 @3:46 am
YUP- Hospitality business management, event planning/catering with foodservice certification
March 9th, 2010 @4:22 am
do you have your degree though?
March 9th, 2010 @4:32 am
30,000 IN INTEREST….WTF
March 9th, 2010 @4:55 am
We the young and idealistic are here to make money for the old and powerful. Maybe we should all start voting so this countries future leaders actually has a voice.
March 9th, 2010 @5:25 am
actually I used to work in student loan consolidation and correct me if im wrong but the guy in the vidio that says he is handicapped may be eligible for student loan forgiveness if he borrowed the money before the injury.
March 9th, 2010 @6:20 am
Sallie mae is a private company– it was privatized years ago– when it was a public company — their practices where much more fair– Gov did a much better job
March 9th, 2010 @7:02 am
And another thing….
Senator Ted Kennedy , citing George W. Bush’s own budget office [roll eyes] (D-Massachusetts) declared that, “We waste billions of dollars in corporate welfare every year on student loans, and we cannot afford it any longer.”
KEY WORDS: corporate welfare… i.e. Sallie Mae, and the like
March 9th, 2010 @7:54 am
One problem is that congress – with their old school, crusty old fogies who never HAD to pay 9.0%, 12.00% etc. on a huge student loan, let alone with all the penalties, etc. for default. They are in the pocket of the powerful, extremely well financed banking lobby. They live in an Ivory Tower. I am almost certain that if someone like Barrack Obama had to finance his education in the system WE NOW deal with, it would be considerably different – for the better no doubt.
March 9th, 2010 @7:56 am
You may have a point there.
One thing I noticed when learning about credit scores is that it isn’t enough to simply have no debt and to pay your bills on time. If you want the highest credit score, you have to actually have debt and be paying it off! They (the people who do the credit ratings for consumers) don’t seem to like it if you aren’t part of the debt system.
March 9th, 2010 @8:50 am
I Stand corrected on the figures. This is what happens when you listen to someone without doing the calculation yourself.
Regardless, my previous posts on student loans still stands and the logic is sound.
March 9th, 2010 @9:09 am
Oh, my mistake. We’re in agreement (and similar debt situations, it looks like). Hah.
Yeah, I don’t know what people like us can do. No easy answers.
March 9th, 2010 @9:22 am
I don’t mean the right thing morally. This is an obvious scam that ruins many people’s lives who are just trying to get the education our society insists we get. I’m just saying this debt is so depressing, I’m going to have to find some way to pay it off or be broke the rest of my life. I would declare bankruptcy, but it’s not allowed with student loans-maybe because hardly anyone can pay them back?! You’re right, though-minimum wage slaves or debt slaves.
@vanorenstein its spelled insult… LOL…
funny someone calling someone stupid when…they can’t spell…. your really pathetic you need to stop….you look really bad each time you open your mouth..